MILLION TO BUY COAL MINES

Chronicle (Levin), 22 August 1947, Page 8

MILLION TO BUY COAL MINES

Press Association )

• (Per

WELLINGTON, AuguSt 21. A d'dcieasA of more than £l',O0O,OOO' iii the am'ount to he paid. in subsidies, compared with the previous year, an Oxpenditure of more than £1,000,000 on the acquisition of coalmines by the State, and a reduction of £2,000,000 in the vot'e from the Consolidated Pund for the Social Security Department, are Ihatures of the estimates of expenditure* for the financial year 1947-48, tatiled in 'the House, of "Eepresen'tatives tonight when the Bndget was plesented„, • * Wliile the total vote for stabilisation if £13,458,774 compared with £14,539,431 spent last year, subsidies to he paid for pfimary production (including timber) are estimated to fall to £2?851,700 compared with £5,309,120 spent last year. In this year's estimates the main highways account is replaced. hy two separate accountd — the highways maintenarice account which will he linanced xrom« the Consolidated Fund, and the . highways construction account which will be a s.ubdivision1- of the public works account. Thus moneys paid to iocal hodies will be derived from the nighways maintenance accoiult but capital construction on highways will be charged to the public works account, uhe country's main loan spending ac--ount. The Main Highways Board will remain in control of both divisions of aighways expenditure. Another change is that the National Bmployment Service and Labour D'epartiheift have been merged into the riabour ahd Employfnent Department.